FX.co ★ EURUSD technical analysis for July 11th, 2022.

Blue lines- bearish channel

EURUSD trend remains bearish. Parity is very close for EURUSD and I do not believe it can be avoided. EURUSD is expected to move towards equality against the Dollar and why not fall even below parity. However we also expect a big move higher in EURUSD as the RSI continues providing bullish divergence signals. So far there was no reversal signal. EURUSD is trading very close to the lower boundary of the bearish channel. Trend remains clearly bearish but so far we only have signs of a weakening down trend. No sign of reversal yet. Bears need to be cautious. Today price made new lows at 1.0052 but now its off these lows near the daily highs. As long as price is below 1.0185 bears will remain in full control of the trend. Breaking above this level would be the first sign of a reversal.